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Brand
Management
To understand and provide for different needs, consumers should
be segmented into logical groups that can be easily understood
and provided for. In working with groups of consumers, key
questions include:
- What are the key consumer groups in my market? Which
is the largest?
- What is the logical segmentation for my market?
- Who am I reaching?
Socio demographic
information can be used to better understand your consumers
and develop more effective marketing and promotion strategies.
Fundamental questions include:
- Who is buying my brand / category?
- Who are the heavy category buyers?
- Which buyer groups drive seasonality?
- Which buyer groups respond to marketing activity?
Brands have personalities
that can scream quality, great taste, real value or other
attributes. Through marketing and sales techniques, it is
possible to improve and change consumers’ perceptions
of a brand. Knowing how consumers view your brand is critical
to developing the brand. Major questions include:
- Why do consumers choose my brand?
- Do consumers understand what my brand stands for?
- How do consumers perceive my brand?
Category Management
& Sales Management
Understanding the profile of retail shoppers and how they
match against a category’s demographics will make for
smarter category marketing. Category Managers will seek ways
to leverage the category at the retailer level by understanding
the behavior of different types of shoppers. Areas to examine
include:
- Who are heavy category buyers?
- How do high spending / loyal store shoppers differ from
infrequent shoppers?
- How much do certain buying groups spend in a retailer?
- Where are the demographic opportunities?
Consumer Purchasing Dynamics
Most brand strategies are aimed at attracting more buyers
and achieving higher purchasing rates. Therefore, understanding
the make-up of consumers and the dynamics of their purchasing
is key to achieving success.
To fully understand Consumer Purchasing Dynamics, it’s
important to understand what goes on beneath consumer purchasing
– what drives buyers to make their decisions, how they
feel about their choices and ultimately what they plan to
do with their purchase. Key issues include:
- Why do customers purchase my brand?
- How do they use different brands in the category?
- What motivates consumer to purchase?
- What is my brand personality and how does it compare to
the competition?
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